The reinsurance market showed signs of decelerating rate declines in its most recent June/July 2015 renewals, indicating that pricing could be approaching a new equilibrium, says Fitch Ratings in a new global sector report. Reinsurance pricing has experienced downward pressures …
London-based Brit plc, which completed its merger with Fairfax Financial Holdings in the first half of this year, reported operating profit before foreign exchange and transaction related expenses of $70.9 million, compared with $172.3 million in the first half of …
Fairfax India Holdings Corp., the $1 billion fund created by Toronto-based investor Prem Watsa, offered to buy 26 percent more in Indian brokerage IIFL Holdings Ltd.* for $255 million. Fairfax India announced an offer to purchase about 83.1 million shares …
Fairfax Financial Holdings Ltd. will sell as much as 30 percent of Brit plc to the Ontario Municipal Employees Retirement System two months after agreeing to buy the Lloyd’s of London insurer for $1.88 billion. Fairfax said Wednesday it reached …
The proposed acquisition of Brit plc by Fairfax Financial Holdings is “credit positive” for Fairfax, according to Moody’s, which noted that the deal will significantly boost Fairfax’s underwriting capacity at Lloyd’s in a recently published report. Also citing the benefits …
Brit plc Chief Executive Officer Mark Cloutier said an excess of insurance industry capital will force more executives to sell or merge their companies. Cloutier said Brit’s planned $1.88 billion sale to Prem Watsa’s Fairfax Financial Holdings Ltd., which was …
Fairfax Financial Holdings Ltd.’s Prem Watsa, who said this week that issuing stock was one of his last options for financing the purchase of Brit plc, opted days later to sell shares and guard his company’s credit rating. Watsa, Fairfax’s …
Fairfax Financial Holdings, the Canadian property and casualty insurer run by contrarian investor Prem Watsa, said it would buy Brit plc for some $1.88 billion to become one of the top five underwriters on the Lloyd’s of London market. Watsa, …
Canadian investor Prem Watsa, dubbed the “Warren Buffett of the North,” has nearly doubled his company’s stake in embattled BlackBerry maker Research In Motion Ltd (RIM) to just under 10 percent, according to a regulatory filing. The move makes Watsa, …
A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of Polskie Towarzystwo Reaskuracji S.A. (Polish Re) , both with stable outlooks. The rating affirmations reflect Polish Re’s …
